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Share Name Share Symbol Market Type Share ISIN Share Description
Bhp Group Plc LSE:BHP London Ordinary Share GB00BH0P3Z91 ORD $0.50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -94.40 -4.8% 1,873.80 1,867.20 1,868.00 1,957.20 1,855.80 1,956.80 23,046,139 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 43,970.7 17,786.5 161.6 11.5 39,576

Bhp Share Discussion Threads

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DateSubjectAuthorDiscuss
26/10/2020
19:05
Gulf of Mexico oil workers pull out as another tropical storm heads toward rigs Oct. 26, 2020 2:29 PM ET|About: BP p.l.c. (BP)|By: Carl Surran, SA News Editor Oil producers are evacuating offshore production platforms in the U.S. Gulf of Mexico, as Tropical Storm Zeta strengthens and looks likely to threaten the U.S. later this week as a hurricane. BP, BHP, Chevron (NYSE:CVX), Equinor (NYSE:EQNR) and Royal Dutch Shell (RDS.A, RDS.B) began withdrawing staff from their U.S. Gulf of Mexico offshore facilities. BP says it has started to shut-in production at its GoM platforms and assets; Shell has paused some offshore drilling in the area and is limiting movement of non-essential personnel to offshore platforms. BHP is evacuating non-essential workers from the Shenzi and Neptune offshore production platforms, and Equinor is shutting production on the Titan platform. Enbridge (NYSE:ENB) reportedly has declared a force majeure event for some of its assets in the Gulf.
la forge
26/10/2020
12:29
Https://stockhead.com.au/resources/copper-prices-are-flying-but-the-best-is-yet-to-come/
sarkasm
24/10/2020
08:52
20 January 2021 08:30 AM Melbourne time (approximate) BHP Operational Review for the half year ended 31 December 2020
misca2
24/10/2020
01:59
BHP extends PPA with SCE for mining operations in Australia MiningPowerNickel By NS Energy Staff Writer 23 Oct 2020 The PPA that has been extended for 15 years has scope to include renewable energy sources such as solar, wind and waste-to-energy BHP BHP extends PPA with SCE to power its Western Australia operations. (Credit: BHP.) TransAlta Renewables announced that its subsidiary Southern Cross Energy has extended its current power purchase agreement (PPA) with BHP Billiton Nickel West (BHP) with respect to the 245MW generating facilities in the Goldfields region of Western Australia. The extension replaces the previous PPA which is scheduled to expire on December 31, 2023. With the new agreement, the PPA will be on force till 2038, supplying Nickel West all the electricity generated by SCE. With the extended PPA, BHP will be able to include renewable energy such as solar and wind along with energy storage, to meet its emissions reduction targets. Study phases are underway for an 18.5MW solar plant at Nickel West’s Leinster and Mount Keith operations, along with a battery energy storage system. The evaluation also includes a 17MW waste heat steam turbine system at the Kalgoorlie Smelter to supply low-emissions energy from furnace heat recovery. Adding renewable energy could help reduce Nickel West’s emissions by 15% The two renewable energy projects could reduce Nickel West’s Scope 2 electricity greenhouse gas emissions by up to 15% by 2023, based on 2020 levels. BHP targets a 30% reduction in carbon emissions from 2020 levels by 2030, with a long-term target of net zero operational emissions by 2050. Nickel West asset president Eduard Haegel said: “The PPA also provided Nickel West with the additional ability to integrate renewable electricity generation, including solar and wind, with energy storage technologies to meet its emissions reduction targets and deliver lower carbon, sustainable nickel to its customers.” “These projects contribute to the first phase of our emissions reduction strategy, as we continue to evaluate plans for additional renewable energy supply to decarbonise our nickel operations. “We are at the beginning of an energy revolution that will transform our world and materially increase demand for nickel. BHP Nickel West is well placed to provide our nickel units sustainably, and with one of the lowest carbon footprints.”
gibbs1
21/10/2020
18:44
BHP commits additional $272m for Jansen Stage 1 potash project in Canada MiningOther CommoditiesIndustrial Minerals By NS Energy Staff Writer 21 Oct 2020 The $17bn Jansen project is a proposed underground potash development project located in Saskatchewan mining-excavator-1736289_640 (5) FID for Jansen potash project scheduled in mid-2021. (Credit: Khusen Rustamov from Pixabay) Anglo-Australian mining company BHP has agreed to invest an additional $272m in the $5bn Jansen Stage 1 potash project in Saskatchewan, Canada. The $17bn Jansen project is a proposed underground potash development project located in Saskatchewan, within the Prairie Evaporite formation at depths of 900m- 1,000m. The firm has already invested $2.7bn for the project. The Jansen Stage 1 potash project is 86% complete and is expected to have initial capacity of 4.3-4.5 Mt/y of potash. BHP said that the latest investment follows challenges encountered with the shaft lining placement and the recent impacts from the company’s response plan for COVID-19. The latest funding, which will be used for the completion of shafts lining at the project, brings the total budget to $3bn for the project, till date. FID for Jansen potash project scheduled in mid-2021 In August, the company stated that the project would be presented to the board of directors in the middle of 2021 for the final investment decision (FID). In a press statement, BHP said: “Jansen Stage 1 remains well positioned with attractive medium to longer-term commodity fundamentals, and is set to be a high-margin, low-cost, long-life asset, with multiple, basin-wide, expansion opportunities. “As always, we will be disciplined about our entry into the market and it must pass our strict Capital Allocation Framework tests.” BHP said it had five major development projects in petroleum, copper, iron ore and potash as of September 2020 quarter end. These projects have a combined value of $10.9 over their operational life. Recently, BHP has dropped its plans for a A$3bn ($2.1bn) expansion of its Olympic Dam mine in South Australia. The move comes as the studies of the ore body revealed weaker than expected results, the firm said.
grupo guitarlumber
20/10/2020
09:46
India selling off some of its coal mines reminds me of Saudi starting to sell of Aramco, neither country in the future wishes to be left with a stranded asset.
loganair
20/10/2020
09:35
Https://www.nsenergybusiness.com/features/countries-largest-coal-reserves/# Profiling the top five countries with the world’s largest coal reserves By Andrew Fawthrop 19 Oct 2020 The world's entire proven coal reserves were estimated at more than one trillion tonnes in 2019, with just a few countries holding the largest deposits Coal has fuelled industrialisation around the world, but is now being phased out amid climate concerns The world’s largest coal reserves are concentrated mainly in five countries, which have been able to exploit this natural asset for their own industrial development. According to figures published in the BP Statistical Review of World Energy 2020, there are more than one trillion tonnes of proven coal resources worldwide. While climate concerns and efforts to decarbonise the global energy system have diminished coal’s stature in recent years, it nevertheless remains the biggest source of the world’s electricity generation – accounting for 38% of the overall share in 2019, according to the International Energy Agency (IEA). This is on track to decline amid competition from cheap natural gas and a growing international focus on emissions reduction, but with major economies – notably China and India – still relying heavily on coal-fired power generation, it will take time for this mineral to be fully eliminated from the world’s energy mix. Coal is also used widely in heavy industry, particularly to produce iron and steel, which will remain integral to global infrastructure and manufacturing projects. Emission-abatement technologies such as carbon capture and storage (CCS) are being developed that could enable a cleaner, more environmentally-friendly use of coal in the years ahead. The top five countries with the largest proven coal reserves 1. United States – 249 billion tonnes The US has by far the biggest proven coal reserves in the world, totalling more than 249 billion tonnes in 2019 – a 23% share of the global total. Coal production in the country peaked in 2008, and has been in steady decline ever since – despite promises by President Donald Trump to revive the domestic mining industry. According to the US Energy Information Administration (EIA), coal production in the country in 2019 was the lowest it has been since 1978, with further annual declines expected. Most of the country’s coal is produced in the state of Wyoming (39%), as well as the Appalachian region (27%), which comprises Alabama, Eastern Kentucky, Maryland, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. 2. Russia – 162 billion tonnes Russia comes second on the list of countries with the world’s largest coal reserves – calculated at 162 billion tonnes in 2019. That is equivalent to a 15% share of the overall global resource. The Kansk-Achinsk coal basin, located in the Central Siberia holds accounts for around 40% of the country’s coal reserves, while the Kuznetsk Basin in Western Siberia holds around 28% of the domestic total. Russian policymakers have announced plans to boost domestic coal production over the coming years – targeting as much as 670 million tonnes annually by 2035. That compares to production levels of around 440 million tonnes in 2019, according to the Russian government – which is around 30% higher than it was ten years earlier. Markets in the Asia-Pacific region – where coal is still consumed more readily than in the Western world – are considered key targets for Russian coal exports. 3. Australia – 149 billion tonnes Australia is home to the third largest coal reserves in the world, with a proven resource of 149 billion tonnes in 2019 – around 14% of the global total. It is the top exporter of coal, followed closely by Indonesia, providing 27.5% of the global supply – largely to markets in Asia, and particularly China. countries with largest coal reserves Coal products were Australia’s second-most valuable exports in 2019, after iron ores and concentrates. Production occurs across the country, but the states of New South Wales and Queensland are most prolific – particularly for producing black, or bituminous, coal in the Bowen Basin and Sydney Basin along the eastern coast. 4. China – 142 billion tonnes China had proven coal reserves of 142 billion tonnes in 2019, giving it a 13% share of the global resource. Most of these reserves are located in the north and north-west regions. The country is both the world’s biggest producer and consumer of coal, accounting for 48% and 52% of the global total respectively. In 2019, it was the top import market for coal products, taking an 18% share of the global trade. China is heavily reliant on coal for its energy needs – one of every four tonnes of coal used globally is burned to produce electricity in China, according to the IEA, with the fuel accounting for more than 60% of its electricity production in 2019. A 2020 announcement from President Xi Jinping that China will target carbon neutrality before 2060 is likely to result in the country taking steps to reduce this overreliance on coal for its domestic energy supply. 5. India – 106 billion tonnes India has the fifth-largest proven coal reserves in the world, totalling around 106 billion tonnes in 2019 – just under 10% of the global total. Jharkhand, Odisha and Chhattisgarh in the east of the country are the states containing the largest coal deposits. Coal is the main source of electricity generation in India, accounting for around two thirds of domestic supply. The country was the world’s second-largest importer and consumer of coal in 2019, after China. In 2020, the Indian government announced plans to open up the country’s coal reserves to private-sector development, in a bid to boost domestic production and reduce the reliance on foreign imports. Around 40 coal mines are to be auctioned off for development, although early interest is reported to be low, reflecting a lack of appetite among investors at a time when coal is on the decline and competition from renewables is growing.
maywillow
20/10/2020
08:19
SYDNEY--BHP Group Ltd. said group copper-equivalent production rose 2% in the September quarter, and it largely kept its production and unit-cost guidance unchanged for fiscal 2021. The company said production guidance is under review at its Cerrejon coal mine in Colombia, however, due to an ongoing strike. It added that all guidance is subject to further potential impacts from the coronavirus pandemic. BHP also said that its major projects under development in petroleum, copper and iron ore are tracking well. "BHP has started the new financial year with a strong first quarter of safety and production performance," BHP Chief Executive Mike Henry said. "Group production rose 2% from a year ago driven by solid results in metallurgical coal and iron ore." Write to Mike Cherney at mike.cherney@wsj.com (END) Dow Jones Newswires October 19, 2020 18:34 ET (22:34 GMT)
waldron
15/10/2020
09:53
Regarding speculation surrounding Ozzie coal exports to China, and the reasoning behind it: Xi's also been upping the rhetoric against Taiwan, lately; told the PRC marines to prepare for war, and now appears to be unwell - covid? anyone's guess, but here's a link if you want to see him coughing. Does the heart good :). hxxps://www.taiwannews.com.tw/en/news/4030540
poikka
14/10/2020
11:44
BHP Says It Sees Some Chinese Clients Making Requests to Defer Coal Deliveries 10/14/2020 | 11:30am BST By Alistair MacDonald The Chairman of BHP Ltd said that some of its Chinese customers are asking to defer delivery of coal from the world's largest miner, amid reports the country is banning coal imports from Australia. Ken Mackenzie said BHP was working with its clients to see if there were restrictions on Australian coal imports. "It would be concerning if the rumors are true," he said at a press conference. Australian leaders said they are seeking to clarify reports in two trade publications that China's customs authorities have told several Chinese state-owned steelmakers and power plants to stop importing Australian coal. Tensions between the two countries have reached new heights in recent months after Australia began seeking support from European leaders for an investigation of missteps by China that contributed to the coronavirus pandemic. China has already placed restrictions on imports of Australian beef, barley and wine, and warned its tourists and students to reconsider Australia as a destination because of what it said was a rise in racial discrimination against Chinese people. Write to Alistair MacDonald at Alistair.MacDonald@wsj.com (END) Dow Jones Newswires 10-14-20 0603ET
grupo
14/10/2020
11:41
Upcoming events on BHP GROUP 10/14/20 | 07:00am Annual General Meeting 10/15/20 | 09:30am Annual General Meeting 10/20/20 | 07:30am Q1 2021 Sales and Revenue Release
grupo
14/10/2020
11:39
14 October 2020 To: Australian Securities Exchange cc: New York Stock Exchange London Stock Exchange JSE Limited BHP GROUP LIMITED ANNUAL GENERAL MEETING SPEECHES Please find attached addresses to shareholders to be delivered by the Chair and the Chief Executive Officer at BHP Group Limited's Annual General Meeting today. As part of the Dual Listed Company structure of the Group, the business to be conducted at the Annual General Meetings will be determined by polls. The poll results will not be known until the conclusion of BHP Group Plc's Annual General Meeting on 15 October 2020. The results will then be released to the market. The meeting can be accessed at bhp.com/LimitedAGM. Further information on BHP can be found at bhp.com. Authorised for lodgement by: Caroline Cox Group General Counsel & Company Secretary
grupo
13/10/2020
08:21
BHP Group PLC said Tuesday that shareholders have withdrawn a proposed resolution calling for the company to take steps to protect cultural-heritage sites in Australia. The world's largest listed mining company said the same shareholders who requested the resolution, known as Item 24, have withdrawn it, and it won't be voted upon at BHP's annual general meeting. The shareholders involved represented 0.01% of the issued share capital in BHP Group Ltd., according to the company. The proposed resolution called for a moratorium on undertaking activities that would disturb, destroy or desecrate cultural-heritage sites in Australia, among other measures. In the original notice for the AGM issued Sept. 14, BHP had said that the resolution wasn't in the best interest of shareholders, and recommended that they vote against it. Write to Joe Hoppe at joseph.hoppe@wsj.com (END) Dow Jones Newswires October 13, 2020 02:54 ET (06:54 GMT)
maywillow
09/10/2020
17:29
Gold COMEX 1,926.10 +1.64% Silver COMEX 24.83 +3.59% Platinum NYMEX 894.80 +3.56% Copper COMEX 3.08 +1.33% Brent Crude Oil NYMEX 43.53 +0.44% Gasoline NYMEX 1.20 -0.42% Natural Gas NYMEX 3.23 +2.80% WTI 41.25 USD +0.17% FTSE 100 6,016.65 +0.65% Dow Jones 28,649.61 +0.79% CAC 40 4,946.81 +0.71% SBF 120 3,930.73 +0.61% Euro STOXX 50 3,273.12 +0.37% DAX 13,051.23 +0.07% Ftse Mib 19,582.76 +0.00% Rio Tinto 4,800.5 +1.29% Bhp 1,666.6 +1.23% Anglo American 1,950.4 +3.54% Glencore 173 +1.90%
waldron
09/10/2020
11:12
Https://www.nsenergybusiness.com/features/top-nickel-producing-companies/# Profiling the world’s top five nickel-producing companies Features & AnalysisMiningNickel By NS Energy Staff Writer 08 Oct 2020 The top five nickel producing companies conduct their business across South America, Europe, Asia and Australia nickel_vladimir-patkachakov-ZAP1duyEIR4-unsplash Heavy machine mining (Credit: Vladimir Patkachakov/Unsplash) Several companies around the world are involved in producing nickel, which has a range of useful applications in modern life, from manufacturing to electronics. The fifth most common element found on Earth, it has been known to be used by humans as far back as 3500 B.C. Naturally-occurring nickel is mostly present as oxides, silicates and sulphides. It has been estimated that more than two million metric tonnes of this white metal are produced in the world every year. Nickel has a broad range of industrial applications Always used as an alloy, in combination with other metals, and seldom used alone, nickel alloys exhibit some unique properties that are absent in pure metals. Mostly used to manufacture stainless steel, nickel provides its strength and anti-corrosive property. Also, for steel that is made to be less magnetic, nickel forms the main ingredient. Its ability to withstand high temperatures has made it a significant component in superalloys and specialty steels such as those used in jet engines. Nickel alloys are also used in industrial gas turbines, heat exchangers in power plants, resistance wires, electric-vehicle batteries and furnace components. One of its most common uses is nickel plating. Indonesia is the top nickel producing country, although the Philippines is expected to overtake it in 2020. Although 80% of all the known nickel deposits mined until now have been unearthed in the past 30 years, the nickel reserves and resources since then have also witnessed a steady growth. Significant nickel deposits are believed to be present in manganese nodules that are found in the deep sea, which are estimated to be over 290 million tonnes. Access to these can only be made possible with the future development of deep-sea mining technologies. The world’s top five nickel-producing companies 1. Vale – 208,000 metric tonnes Formerly called Companhia Vale do Rio Doce, Vale is a diversified multinational metals and mining company founded in 1942, and headquartered in Rio de Janeiro, Brazil. Vale is the world’s largest producer of nickel, one of the most versatile metals in existence. It owns nickel mines and operations in Brazil, Canada, Indonesia and New Caledonia, as well as fully-owned and joint-venture refineries in China, South Korea, Japan, the UK and Taiwan. It produces a wide range of products that are able to meet the diverse needs of nickel consumers. Vale’s 2019 nickel production was estimated to be 208,000 metric tonnes – a considerable drop from the 243,000 tonnes that were produced in 2017. top nickel producing companies Nickel coins (Credit: Claudio Schwarz/Unsplash) 2. Norilsk Nickel – 166,265 metric tonnes Established in 1993 with headquarters in Moscow, Russia’s Norilsk Nickel is a diversified mining company producing nickel and palladium – as well as silver, gold, platinum, rhodium, cobalt, sulfur, selenium, tellurium, iridium and ruthenium. It comes second on our list of top nickel-producing companies and also possesses the largest nickel reserves and the largest nickel sulfide deposit in the world. Called Nornickel for short, Norilsk Nickel is also the world’s top low-cost nickel producer. Engaged in mining operations spanning three continents and five countries, Nornickel explores, extracts and refines ore and nonmetallic minerals, and sells the base and precious metals that are produced from the ore. In 2019, Nornickel produced 166,265 metric tonnes of nickel – a slight increase from the 163,000 tonnes produced in 2017. Jet engine (Credit: Luka Slapnicar/Unsplash) 3. Jinchuan Group – 150,000 metric tonnes Founded in 1958 and based in Gansu, Jinchuan Group International Resources is China’s top nickel producer and comes third in our list of world’s top nickel-producing companies. With a large-scale international presence, Jinchuan is a diversified mining company whose major operations include mining, milling, smelting and chemical processing. It also mines for platinum, copper, selenium, palladium, silver, gold and cobalt, and owns the third-largest copper-nickel sulphide deposit in the world (located in China). Jinchuan’s other engagements, such as trading in mineral and metal products, complement its mining operations. The Chinese company’s current annual nickel production has been estimated at about 150,000 metric tonnes. top nickel producing companies Nickel Batteries (Credit: Frank Wang/Unsplash) 4. Glencore – 121,000 metric tonnes Switzerland-based commodity trading and diversified mining company Glencore was established in 1974. Fourth in our list of leading nickel producers, Glencore has assets in Europe, North America and Australia. It runs about 150 operations globally, which include mining, metallurgical and oil production sites. It also produces some of the world’s purest nickel. Glencore’s marketing business deals not only in nickel as a metal but also ferronickel, concentrates and intermediates. It is one of the top processors and recyclers of nickel-bearing materials, such as batteries. Glencore also produces other metals such as platinum group metals, copper and cobalt as a by-product while producing nickel. It owns nickel mines in Norway (Nikkelverk), Canada (Sudbury INO and Raglan), Australia (Murrin Murrin), and New Caledonia (Koniambo), which also comprise sulphide and laterite ores. Glencore produced 121,000 metric tonnes of nickel in 2019 – a dip from the 130,000 tonnes produced in 2017. Steel cutlery (Credit: Louis Hansel/Unsplash) 5. BHP Group – 87,400 metric tonnes Previously known as BHP Billiton, Melbourne-headquartered, Anglo-Australian diversified mining company BHP Group increased its nickel production from 70,000 metric tonnes in 2017 to 87,400 tonnes in 2019. All its nickel operations―whether open-cut or underground mines, concentrators, smelters or refineries – are located in Western Australia. One such operation is BHP‘s fully-integrated mine-to-market nickel business Nickel West, located in Kalgoorlie, Australia. Nickel West is a major value add throughout BHP’s nickel supply chain, as most of its current production is sold in the international market as high-quality nickel metal. BHP Group recently purchased nickel tenements in the form of the Honeymoon Well Nickel Project in Western Australia; formerly a unit of Norilsk Nickel. The deal marks the exit of the Russian miner from the country.
the grumpy old men
06/10/2020
07:55
TOP NEWS: BHP To Increase Stake In Shenzi By 28% For USD505 Million Tue, 6th Oct 2020 06:25 Alliance News (Alliance News) - Anglo-Australian miner BHP Group PLC said it will acquire an additional 28% interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico from US petroleum refineries firm Hess Corp for USD505 million. Shenzi is currently structured as a joint ownership, with BHP holding a 44% stake as operator, while Hess and Repsol SA hold a 28% interest each. The acquisition will increase BHP's working interest to 72% and add 11,000 barrels of oil equivalent per day in production. Of this output, 90% of it is oil. "This transaction aligns with our plans to enhance our petroleum portfolio by targeted acquisitions in high quality producing deepwater assets and the continued de-risking of our growth options. We are purchasing the stake in Shenzi at an attractive price, it's a tier one asset with optionality, and key to BHP's Gulf of Mexico heartland. As the operator, we have more opportunity to grow Shenzi high-margin barrels and value with an increased working interest," said Geraldine Slattery, president of Petroleum Operations. Shares in BHP Group were marginally higher at AUD36.16 on Tuesday in Sydney. By Dayo Laniyan; dayolaniyan@alliancenews.com
grupo
06/10/2020
02:23
BHP to acquire Shenzi interest from Hess BHP, operator of Shenzi field in the deepwater Gulf of Mexico, agreed to acquire Hess Corp.’s 28% working interest in the field for $505 million. OGJ editors Oct 5th, 2020 BHP , operator of Shenzi field in the deepwater Gulf of Mexico, agreed to acquire Hess Corp.’s 28% working interest in the field for $505 million. Shenzi, a six-lease development, produced an average of 11,000 net boe/d (90% oil) in the first 8 months of 2020. Structured as a joint ownership, BHP currently holds 44% with partners Hess (28%) and Repsol SA (28%). The acquisition would bring BHP’s working interest to 72%. The transaction, subject to customary closing conditions, is expected to close before yearend with an effective date of July 1, 2020.
sarkasm
02/10/2020
17:05
Gold COMEX 1,908.40 -0.41% Silver COMEX 24.01 -1.03% Platinum NYMEX 892.90 -1.45% Copper COMEX 2.98 +3.93% Brent Crude Oil NYMEX 39.69 -3.03% Gasoline NYMEX 1.11 -2.04% Natural Gas NYMEX 2.99 -0.93% WTI 37.559 USD -2.34% FTSE 100 5,902.12 +0.39% Dow Jones 27,625.4 -0.69% CAC 40 4,824.88 +0.02% SBF 120 3,825.38 -0.01% Euro STOXX 50 3,186.38 -0.03% DAX 12,689.04 -0.33% Ftse Mib 19,018.9 -0.22% Rio Tinto 4,694 +0.98% Bhp 1,654.6 +0.55% Anglo American 1,870 -0.52% Glencore 161.76 +1.49%
waldron
28/9/2020
20:06
offshore mag Shell maintaining offshore Mexico drilling schedule Shell plans to drill a further 10 exploratory wells on its acreage offshore Mexico over the next three years. Sep 28th, 2020 The semisubmersible drilling rig La Muralla IV. Offshore staff HOUSTON – Shell plans to drill a further 10 exploratory wells on its acreage offshore Mexico over the next three years. Pablo Tejera Cuesta, general manager, Upstream Development at Shell Mexico, said his company was in the country for the long term, with “very significant” investment plans for the next four years. Progress has not been de-railed despite the twin impact of COVID-19 and the lower oil price, he stressed. Shell is present in 11 Mexican blocks spanning a total area of around 20,000 sq km (7,722 sq mi) – more than twice as large as its US GoM acreage, he said, where the company currently produces 400,000 b/d. The company brings experience as an operator globally and in deepwater in the US, Brazil, Nigeria and Malaysia, he added, and plans to transfer that to Mexico, with an $800-million investment commitment. COVID-19’s impact has been completely unprecedented, Tejera Cuesta continued. “Our company has significantly tightened its belt, taking cash preservation measures to ensure it can come out of this crisis.” But despite this year’s unexpected challenges, the investments in the program in Mexico have progressed with hardly any impact, he said, Shell having drilled and completed two exploration wells so far this year. The program involves collaborations with local stakeholders in Mexico’s oil and gas supply chain, with Halliburton on logistics, and with drilling contractor Grupo R, which will supply the semisubmersible rig La Muralla IV for the resumption of the campaign in the next couple of months. Shell plans three back-to-back wells, starting in the deepwater Perdido fold belt. Deepwater activity on the US side had been going on for three decades, he pointed out, with plenty of established infrastructure. “Plays continue to be discovered every two years, with new technology opening up deeper waters, or harder rocks.” While the maturity of the US deepwater sector does not compare with Mexico’s, which is barely into its infancy, Mexico has the advantage that it can draw on decades of experience from deepwater operations globally, he pointed out. “It all starts with the geology – if that delivers, the rest will follow. Mexico has a stable framework and there’s no reason to believe that it won’t work for the international oil industry – and the [deepwater] learning curve will be much faster given the global experience being brought in by the private sector.” Pemex’s shallow-water Cantarell area has more offshore infrastructure than the US, he continued. There are no facilities at present in Mexico’s deepwater blocks, but Cuesta cautioned that cycle times to development of frontier areas can take 10 years or more. “The potential is there, but there also needs to be a realization that this is a long-term game. Investing here [in the deepwater] is not for the faint-hearted, it can take a long time to monetize.” He cited BHP/Pemex’s Trion field, Mexico’s first truly deepwater development project, as an example. And any frontier discoveries that do follow in the next wave of deepwater drilling may not come onstream before the end of this decade, he suggested. Finding solutions for any discovered gas could pose another problem. “Unfortunately, gas may prove to be more of a hassle than a gain, because if the projects are far from shore, with not much gas, the challenge will be to bring that to the shore. “So there is a lot of potential both for Mexico and the industry to put together a number of projects and share the costs in order to speed up developments.” 09/28/2020
florenceorbis
25/9/2020
17:23
Gold COMEX 1,863.90 -0.43% Silver COMEX 23.04 -0.82% Platinum NYMEX 840.10 -0.36% Copper COMEX 2.96 -0.12% Brent Crude Oil NYMEX 42.24 -0.52% Gasoline NYMEX 1.18 +0.58% Natural Gas NYMEX 2.82 -1.40% WTI 40.076 USD -0.45% FTSE 100 5,842.67 +0.34% Dow Jones 26,873.53 +0.22% CAC 40 4,729.66 -0.69% SBF 120 3,746.87 -0.53% Euro STOXX 50 3,137.06 -0.70% DAX 12,469.2 -1.09% Ftse Mib 18,681.37 -1.19% Rio Tinto 4,733 -1.65% Bhp 1,702.8 -0.61% Anglo American 1,833.6 +0.76% Glencore 167.38 -0.94%
waldron
20/9/2020
10:59
ruby tuesday Https://www.youtube.com/watch?v=V2CfgWPj3ls AUTUMN BEGINS 2020 Final Dividend Payment Date 22 September 2020
grupo guitarlumber
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